Puhui Wealth Investment Management Co., Ltd. Announces Results of 2022 Extraordinary General Meeting of Shareholders

BEIJING, China, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Puhui Wealth Investment Management Co., Ltd. (NASDAQ:PHCF) ("Puhui" or the "Company"), a China-based third-party wealth management service provider with a focus on wealth management services for high net worth ("HNW") individuals and corporate clients, today announced the completion of its 2022 extraordinary general meeting of shareholders which was held on November 15, 2022 at the Company's headquarters located at Room 603, 6th Floor, Dingxin Building, 27 Guangqumen Nei Street, Dongcheng District, Beijing, People's Republic of China, 100062 ("2022 Extraordinary General Meeting").

Shareholder voting outcomes from the 2022 Extraordinary General Meeting resulted in the share consolidation of every six (6) issued and unissued existing ordinary or preferred shares of US$0.001 par value into one (1) ordinary or preferred share of a par value of US$0.006 each, and the adoption of the second amended and restated memorandum and articles of association of the Company reflecting the share consolidation and the revised authorized share capital. After the share consolidation, the share capital of the Company is US$50,000 divided into 8,166,666.667 ordinary shares of US$0.006 par value each and 166,666.667 preferred shares of US$0.006 par value each.

About Puhui Wealth Investment Management Co., Ltd.

Headquartered in Beijing, the Company, incorporated under the laws of Cayman Islands as a holding company, is a third-party wealth management service provider focusing on marketing financial products to, and managing funds for, HNW individuals and corporate clients in the People's Republic of China ("PRC" or "China"), with the main operating activities conducted through the variable interest entity Puhui Wealth Investment Management (Beijing) Co. Ltd ("Puhui Beijing"), or the VIE, and its subsidiaries in China. More information about the Company can be found at: www.puhuiwealth.com.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may", "will", "intend", "should", "believe", "expect", "anticipate", "project", "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company's statements regarding its continued growth, business outlook, and other similar statements are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 20-F and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact Investor Relations:

Ascent Investor Relations LLC

Tina Xiao, President

Tel: +1 917-609-0333

Email: [email protected]